Winnebago Industries, Inc. · NYSE:WGO
Winnebago Industries — Q4 2026 Earnings Presentation
36 slides from Winnebago Industries's earnings presentation, Oct 21, 2026
Slide 1: Winnebago Industries Q4 FY 2026 Investor Presentation
Winnebago Industries Q4 FY 2026 Investor Presentation October 21, 2026 © 2026 Winnebago Industries 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the business outlook and financial guidance for Fiscal 2027. Investors are cautioned that forward-looking statements are inherently u
Slide 3: Elevating Every Moment Outdoors as the Trusted Leader in Outdoor Recreation
Elevating Every Moment Outdoors as the Trusted Leader in Outdoor Recreation Locations Diverse Products $2.7B Current Net Revenues1 Class A – Gas & Diesel Class B – Gas & Diesel Class C – Gas & Diesel ~5,000 Highly Skilled Employees Travel Trailer 5th Wheel Specialty Vehicles Significant Transformati
Slide 4: Belief, Purpose, Vision, Principles and Values
BELIEF We believe time together outdoors is priceless PURPOSE Elevating every moment outdoors VISION To be the trusted leader in premium outdoor recreation PRINCIPLES Relentless Unparalleled Purposeful Exceptional Excellence Collaboration Innovation Experience Our unyielding pursuit of Our empowered
Slide 5: How We Operate
How We Operate © 2026 Winnebago Industries 5
Slide 6: Diversified Portfolio Evolving for Growth
Diversified Portfolio Evolving for Growth NET REVENUES CONTRIBUTION BY SEGMENT 0.5% 9.2% 14.6% 38.9% 90.4% 46.5% FY 2016 FY 2026 $1.0B $2.7B Motorhome RV Towable RV Marine/All Other Note: Percentages may not add due to rounding © 2026 Winnebago Industries 6
Slide 7: Q4 F'26 Financial Results
Q4 F’26 Financial Results © 2026 Winnebago Industries 7
Slide 8: Designed to Strengthen Our Foundation to Compete Through the Cycle
FISCAL 2026 KEY INITIATIVES Designed to Strengthen Our Foundation to Compete Through the Cycle 1 2 3 4 Improve Invest in Owner- Maintain Cost and Broaden Portfolio Operational Focused Liquidity Discipline & Access Efficiency Innovation Simplify our Advance product quality Strengthen financial Expand
Slide 9: Disciplined Execution Amid Consumer and Dealer Caution
Disciplined Execution Amid Consumer and Dealer Caution KEY MARKET TRENDS BUSINESS PERFORMANCE • RV and boating interest remained healthy, but affordability • Production and wholesale shipments remained disciplined pressures and macroeconomic uncertainty continued to delay new and aligned with retail
Slide 10: Premium Brand Positioning Reflected in Dollar Share Exceeding Unit Share
Our Premium Brand Positioning Is Reflected In Dollar Share That Exceeds Unit Share Across Key RV Categories TTM 8/31/2026 Class A - Class A - Motorhome Class B Class C Towable Fifth Wheel Travel Trailer Total Diesel Gas Unit Share 16.3% 35.4% 12.0% 19.6% 13.8% 9.7% 13.9% 8.8% 10.4% Change Y/Y (% pts
Slide 11: Broadening our Reach Across Customer Segments, Use Cases and Price Points
FY26 NEW PRODUCTS Broadening our Reach Across Customer Segments, Use Cases and Price Points WINNEBAGO | MOTORIZED WINNEBAGO | TOWABLE GRAND DESIGN | MOTORIZED ARKA THRIVE LINEAGE SERIES E Expands Winnebago's adventure Broadens Winnebago Towables' Towables’ travel Establishes Grand Expands Grand Desi
Slide 12: Barletta Continued to Gain Share in a Soft Retail Market
Barletta Continued to Gain Share in a Soft Retail Market F26 9.7% F25 9.0% F24 8.8% Sanza F23 7.1% F21 4.7% Aria Leggera F19 Corsa 1.7% Cabrio F18 0.3% Lusso F17 0.0% Source: Statistical Surveys Inc.; F26 is August FY26 TTM ; represents unit retail volume market share of the U.S. aluminum pontoon se
Slide 13: F26 Q4 Consolidated Results
F26 Q4 Consolidated Results F26 Q4 F25 Q4 • Net revenues decreased 17.0%, primarily reflecting $645.1 lower unit volume and product mix, partially offset by Net selective price adjustments. Revenues $777.3 ($-millions) • Gross profit margin decreased to 12.5% primarily due to 12.5% volume deleverage
Slide 14: Towable RV Segment Results
Towable RV Segment Results F26 F25 Net Revenues Operating Income and Margin Q4 Q4 ($ millions) $306.3 $21.4 $220.3 7.0% $9.3 4.2% $ - millions OI Margin Net revenues decreased 28.1% vs. F25 Q4 Operating income margin decreased 280 bps vs. primarily due to: F25 Q4, primarily due to: • Lower unit volu
Slide 15: Towable RV Segment New Products
Towable RV Segment New Products Momentum MAV 5W Transcend Lite Micro Minnie NEWEST FIFTH WHEEL ACCESSIBLE ADVENTURE COMPACT, LAMINATED TRAILER Expands the fifth-wheel toy hauler Broadens the Transcend lineup with a Builds on the success of the 2108 lineup with a lighter-weight design and lightweight
Slide 16: Motorhome RV Segment Results
Motorhome RV Segment Results F26 F25 Net Revenues Operating Income and Margin Q4 Q4 ($ millions) $361.2 $323.6 $7.9 2.4% ($0.3) (0.1%) $ - millions OI Margin Net revenues decreased 10.4% vs. F25 Q4 Operating income margin increased 250 bps vs. F25 Q4, primarily driven by: primarily reflecting: • Low
Slide 17: Motorhome RV Segment New Products
Motorhome RV Segment New Products Elora and Resa 2027 King Aire Ft. Newmar Signature Experience Lineage – Series E COMPACT CONFIDENCE CLASS C - GAS FOR THOSE WHO EXPECT MORE FROM EVERY MILE Redefines compact RV living with a A refined, gas-powered Class C designed Ownership experience offering narro
Slide 18: Marine Segment Results
Marine Segment Results Net Revenues Operating Income and Margin F26 F25 Q4 Q4 ($ millions) $92.3 $94.9 $6.6 $6.7 7.1% 7.1% $ - millions OI Margin Net revenues decreased 2.7% vs. F25 Q4, Operating income margin of 7.1% was primarily due to: consistent with the prior year primarily due to: • Shift in
Slide 19: Marine Segment New Products
Marine Segment New Products Corsair 27 Halcyon Sanza A LEGEND IS REBORN DESIGN-FORWARD LUXURY ELEVATED VALUE PONTOON Reimagined from bow to stern, the all- Built to make a statement, it brings a leaner, Expands Barletta’s lineup with an new Corsair 27 blends iconic styling with more sculpted look to
Slide 20: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Focused on preserving financial flexibility, managing working capital and strengthening the balance sheet NET LEVERAGE TREND FREE CASH FLOW 2 Leverage Ratio1 Market Trough/ COVID EBITDA Impact Profit Impact Newmar ($ - millions) FY2026 FY2025 Grand Design Chris-Craft 4.8
Slide 21: Fiscal 2027 Guidance and Key Drivers
Fiscal 2027 Guidance1 and Key Drivers FY26 Actual FY27 Estimate Midpoint vs. FY26 Key Drivers • Further Motorhome RV Net Revenues $2.7B $2.65B - $2.80B $2.725B; +1% operating improvement • Contributions from recently launched products Reported earnings per $1.21 $0.90 - $1.50 $1.20; (1%) • Manufactu
Slide 22: Building a More Durable Growth and Earnings Profile
Building a More Durable Growth and Earnings Profile Three Strategic Pillars broaden growth while reducing reliance on a market recovery 01 RV + MARINE 02 CUSTOMER JOURNEY 03 POWER + SPECIALTY MOBILITY Strengthen the Core Build Aftermarket Expand Strategic Mobility • Drive profitable share in today’s
Slide 23: What Differentiates Winnebago Industries
What Differentiates Winnebago Industries Uniquely positioned to drive long-term profitable growth as a trusted leader in premium outdoor recreation: o Portfolio of premium outdoor → Supports strong profitability and margin recreation brands expansion over the long-term o Enterprise-wide centers of →
Slide 24: Outdoor recreation reaching new highs across life stages
Outdoor recreation reaching new highs across life stages Outdoor recreation Increase in the amount Families fuel outdoor Growing retiree continues to grow of casual campers engagement population getting outside 183M +22% 2/3 12.1M Outdoor recreation YOY increase in one-trip Of US families with child
Slide 25: Younger owners are reshaping RV and boating, with RV usage on the rise
Younger owners are reshaping RV and boating, with RV usage on the rise Increase in RV usage Average RV owners are First-time owners Millennials make up frequency trending younger YOY sizable portion of average age of boat the RV category owners 50% 49 36% 44 Increase in median RV usage Median age of
Slide 26: Advancing a Connected Technology Ecosystem
Advancing a Connected Technology Ecosystem WINNEBAGO CONNECTTM Digital Marketing Advances STRATEGIC TECHNOLOGY PRODUCT CONNECTIVITY DATA-DRIVEN MARKETING VERTICAL A fully integrated energy system with A first-of-its-kind intelligent RV Strong brand architecture and digital optimized components, enab
Slide 27: Corporate Responsibility Report
Corporate Responsibility Report PEOPLE PLANET COMMUNITY Embrace inclusion and belonging Protect and preserve the outdoors Contribute to the places we call home Hosted Leadership Speaker Series session on Strengthened ESG governance to enhance Activated employees across the enterprise Leadership Expe
Slide 28: Environmental Sustainability Goals
Environmental Sustainability Goals WASTE GHG EMISSIONS PRODUCT WATER REDUCTION REDUCTION STEWARDSHIP REDUCTION Reduce the amount of waste Align our business to do our part Provide eco-friendly upgrade Reclaim and reuse water in all we send to landfills to limit the global average options on all new
Slide 29: Driving Social Impact Through Community Partnerships
Driving Social Impact Through Community Partnerships Winnebago Industries and the Winnebago Industries Foundation partner with nonprofit organizations to advance preservation and exploration of natural environments, drive access to nature and the outdoor industry, and support our neighborhoods to gr
Slide 30: Appendix
Appendix WINNEBAGO INDUSTRIES
Slide 31: Adjusted EBITDA Reconciliation
Winnebago Industries Adjusted EBITDA Reconciliation ($ - millions) F26 Q4 F25 Q4 Net income $9.7 $13.7 Interest expense, net 4.6 6.6 Income tax provision (benefit) 2.9 (0.4) Depreciation & amortization 15.0 15.2 EBITDA $32.2 $35.1 Restructuring and related costs -- 2.9 Non-operating income 0.4 0.2 A
Slide 32: Pro Forma Adjusted EBITDA Reconciliation
Winnebago Industries Pro Forma Adjusted EBITDA Reconciliation ($ - millions) TTM F26 Q4 TTM F25 Q4 TTM F22 Q1 TTM F20 Q3 TTM F20 Q1 TTM F18 Q4 TTM F17 Q2 Net income $34.5 $25.7 $324.1 $50.9 $103.7 $102.4 $54.6 Interest expense, net 20.9 25.9 40.7 27.8 19.5 18.2 6.3 Provision for income taxes 9.9 4.4
Slide 33: Adjusted EPS Reconciliation
Winnebago Industries Adjusted EPS Reconciliation F26 Q4 F25 Q4 Diluted earnings per share (GAAP) $0.34 $0.49 Amortization1 0.19 0.19 Restructuring and related costs1 -- 0.10 Tax impact of adjustments2 (0.04) (0.07) Adjusted diluted earnings per share (non-GAAP)3 $0.49 $0.71 1 Represents a pre-tax ad
Slide 34: Free Cash Flow Reconciliation
Winnebago Industries Free Cash Flow Reconciliation ($ - millions) F26 Q4 F25 Q4 FY2026 FY2025 Net cash provided by operating activities $142.5 $181.4 $168.7 $128.9 Purchases of property, plant, and equipment (7.3) (10.2) (24.1) (39.4) Free Cash Flow $135.2 $171.2 $144.6 $89.5 Note: Numbers may not f
Slide 35: Winnebago Industries brands
WINNEBAGO WINNEBAGO GRANDSDESIGN Cdiscsx Caye- SE STW MAR LBartletta RECREATIONAL ~\ => VEHICLES WINNEBAGO INDUSTRIES
Slide 36: Contact
Contact Joan Ondala Email: ir@winnebagoind.com